15 ordspråk av Stephen Cheetham
Stephen Cheetham
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It's a logical tidying up of their portfolio. With 2 billion euros worth of restructuring costs for Mercedes and Smart this year, it makes perfect sense.
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I had heard that he was writing stories under different names. Something about how he claimed to be a Vietnam veteran at one point, claimed to be a Native American Indian at another point. His parents were a very middle-class, working, typical American family. He was never involved in Vietnam, he was never a Native American Indian, his parents weren't Native Americans - there wasn't anything like that in his past.
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The stock is down because the guidance statement at the press conference was a little on the vague side. In valuation terms it's really tough to get excited about DaimlerChrysler at 50 euros.
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The figures look fine, they're slightly ahead of our expectations.
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We see a very strong cash generation, a very strong top line, and are starting to see a stronger bottom line now as well.
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It's the end of an episode and is putting their relationship on a new basis.
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This strikes us as a lot of cash up front for a highly uncertain benefit: even were such a deal to happen, it would be unlikely to threaten existing joint ventures,
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The recent surge in VW is now explained, but this deal is depressing confirmation that the old ways of German capitalism die hard.
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This is all the trend that says, actually folks, with a western Europe cost base you can't make money in this segment, so it is entirely logical.
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The Smart plant in France is more a liability than an asset. It's clearly the wrong place to be making that car.
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Overall, the figures look OK, but if you dig down deeper you see that European sales performance has been very weak, and that all the growth is coming from emerging markets.
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The reality of Detroit is that Wagoner is getting his last chance, ... Henderson has a bright future if he manages to turn around Europe.
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It doesn't solve Fiat's main problem of having too many costs in Italy,
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Smaller SUV's are a very strong growth segment. There's no doubt in my mind that this is a good product.
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The reality of Detroit is that Wagoner is getting his last chance. Henderson has a bright future if he manages to turn around Europe.
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